IE Business Daily Business news for the Inland Empire.
A multifamily community in Palm Desert that caters to seniors has been sold.
The 30-year-old development at 73625 Catalina Way, sold recently for $3.8 million, according to CBRE.
Buyer and seller were private parties whose names and places of business were not released. CBRE represented both in the negotiations.
“This is a very well-located asset in a market that continues to experience significant growth,” said Cray Carlson, a senior vice president with CBRE and a member of the negotiating team, in a statement.
The 21-unit project covers 21,535 square feet. It has a gated swimming pool, 16 parking spaces is near Highway 111, the main thoroughfare between Palm Desert and Palm Springs.
